In August, investment funds continued to increase the volume of their assets, primarily due to net subscriptions. Assets under management now exceed €380.815 billion, according to preliminary data from Inverco, after recording an increase of €1.233 billion in the last month (a 0.3% growth compared to the end of July).
The growth in August is largely attributed to net subscriptions by investors (over €1.1 billion) and, to a lesser extent, to slightly positive returns (0.1%).
For the year as a whole, the accumulated growth in fund assets amounts to 9.4% (€32.716 billion), thanks to both market performance and cash inflows: from January to August, net subscriptions to funds totaled €16.471 billion.
During the month, fixed-income funds once again drew significant investor attention (€1.026 billion), particularly in the short-term segment. Year-to-date, this category has already surpassed €13.737 billion in inflows. Investor interest also focused on the money market category (€603 million in August and €9.082 billion accumulated for the year). Mixed fixed-income funds also saw inflows during the month (€205 million).
On the redemption side, global funds registered the highest net outflows, exceeding €430 million, followed by guaranteed funds (€132 million). Target return funds and mixed equity funds also experienced net redemptions of approximately €102 million and €55 million, respectively.
Returns Near 5% Over Eight Months
Although the return in August was only 0.13%, with slight gains across all categories and declines in international equity portfolios (-0.7%), year-to-date fund portfolios have appreciated by 4.7% due to market effects.
Among the winning segments are international equity (11.65%), index funds (15%), and domestic equity (10.56%). No fund category has experienced losses from January to August, according to Inverco data.
